Everett AquaSox Baseball Club is Sold
November 4, 2008 - Northwest League (NWL1)
Everett AquaSox News Release
Everett - AquaSox Team President Peter A. Carfagna announced the sale of the team to 7th Inning Stretch, LLP - a California based company that includes two other minor league teams: the Delmarva (MD) Shorebirds and the Stockton (CA) Ports. The principles are Chairman and Majority Owner Thomas S. Volpe and President Pat Filippone.
The sale of the AquaSox is contingent upon the approval of Minor League Baseball and Major League Baseball. Financial terms were not disclosed.
"This is a bittersweet time for our family," noted Peter A. Carfagna. "We offered the club for sale with the condition that the new owners be a proper fit for the club and the community," he continued. "Although their résumés speak for themselves, we are one-hundred percent confident Tom Volpe and Pat Filippone will be just that. They will have a meaningful local presence."
The Carfagna Family has owned the AquaSox for the last four years. "Peter and I made a lot of great friendships in Everett and Snohomish County," offered AquaSox Vice President of Baseball Operations Peter E. Carfagna. "We look forward to those continuing. Owning the ballclub since 2004 has been an honor and pleasure. The AquaSox are a great asset to this community. Though we will be departing in the near term we trust the club is in great hands going forward. With a fond farewell we say Go Frogs!"
"The league feels a loss with the divesture in the Everett club by the Carfagna family; they will be missed," said Northwest League President Bob Richmond. "The AquaSox have been a model franchise and we know this will continue with Tom Volpe and his group. We know Tom well - he's a good owner and a good baseball man."
"We are excited for the opportunity to be the new stewards of minor league baseball in Everett," said new Chairman and Majority Owner Tom Volpe. "Working to build on an already stellar fan experience will be a top priority."
Under the direction of Volpe and Filippone, 7th Inning Stretch, LLP has been involved in owning and operating minor league baseball teams for a number of years. Since 2006, the company purchased and took over the operation of the Delmarva Shorebirds club of the South Atlantic League, set an attendance record for the Stockton Ports, hosted the California League vs. Carolina League All Star Game, and established the Ports Anchor Fund foundation, which made over $25,000 in contributions for local causes. This season, the Stockton Ports won the California League championship.
Incoming Team President Pat Filippone is a proven veteran of minor league baseball. He brings 18 years of experience and expertise to the AquaSox. "The Carfagna's have passed the baton to us and we are eager to get started. We'll work with our front office staff to make this transition as seamless as possible."
Additional biographical information on Thomas S. Volpe and Pat Filippone is included below.
For more information, please contact Pat Dillon at (206) 228-2953.
Thomas S. Volpe
Chairman and Majority Owner
Thomas S. Volpe is currently serving as the CEO of the Dubai Group, one of the leading companies of Dubai Holding focusing on banking, investments and insurance globally. He is also the Founder and Managing Partner of Volpe Investments LLC, a private equity investment firm based in the Silicon Valley in Northern California.
Before joining Dubai Group, Mr. Volpe was the Founder, Chairman and CEO of Volpe Brown Whelan & Company (VBW), an international risk capital, asset management and investment banking firm focused on rapidly growing entrepreneurial companies in the technology and healthcare industries. After VBW was sold to Prudential Securities in 1999, Mr. Volpe served as Chairman of the renamed Prudential Volpe Technology Group until 2001.
Mr. Volpe was also CEO, President and a member of the Board of Directors of Hambrecht & Quist Incorporated, the world's leading technology and healthcare focused venture capital and investment banking firm.
Mr. Volpe is a graduate of Harvard Business School (MBA), the London School of Economics (MSc Economics) and Harvard College (AB Economics).
Board Membership and Affiliations:
Board Member, Dubai Group (UAE)
Board Member, Dubai Capital Group (UAE)
Board Member, Minor League Baseball
Board Member, TAIB Bank (Bahrain)
Board Member, EFG Hermes (Egypt)
Board Member, Linear Technology Corporation
Board Member, Kline Hawkes & Company
Board Member, The Jackson Laboratory
Chairman & CEO, Stockton Ports Baseball Club
Chairman & CEO, Delmarva Shorebirds Baseball Club
Board Member, The California League of Professional Baseball
Pat Filippone
President
The 2008 season marks Pat Filippone's second year as the President of 7th Inning Stretch, LLC. Filippone is a proven veteran of minor league baseball. During his 18 year career he has been the CEO of the Fresno Grizzlies, Pacific Coast League, General Manager/COO of the Rancho Cucamonga Quakes, California League, and Vice President/General Manager of the Prince William Cannons, Carolina League.
Filippone currently serves on the Minor League Baseball Marketing Committee and the Scheduling and Marketing Committees in the California League. He was recognized as the Executive of the Year for the California League in 2003 and 2007 and for the Carolina League in 1997.
A 42-year-old native of Reston, Virginia, Filippone and his wife, Wendy, reside in Stockton, California with their daughter, Kelly.
Northwest League Stories from November 4, 2008
- Everett AquaSox Baseball Club is Sold - Everett AquaSox
- Indians Announce 2009 Schedule - Spokane Indians
The opinions expressed in this release are those of the organization issuing it, and do not necessarily reflect the thoughts or opinions of OurSports Central or its staff.
